Public Securities

Concord Investment Partners manages a portfolio of North American equities, options, currencies and fixed income. The Company invests with a 5-20 year time frame in highly liquid equities and other, highly liquid, securities and currencies. Although investing the portfolio with a long term term time horizon, holding periods in individual securities can vary significantly and will not necessarily be held for long periods. In other situations, securities will be held for a very long period of time.

Equity investments, which usually comprise the majority of the portfolio, embody the following characteristics:

  • Leading companies in new or emerging growth industries
  • Companies that have little or no financial leverage
  • Companies that are likely to grow revenues regardless of the economic backdrop
  • Companies that are founder led
  • Companies in which the founders have an overwhelming majority of their capital invested alongside equity holders
  • Companies with strong competitive advantages that are typically derived from intangible assets

The company manages its liquid capital in a manner that tends to:

  • Add capital to investments that are growing their market capitalizations
  • Reduce capital from positions that are not performing (ie, that are not growing their market capitalizations at a high rate within a reasonable time frame)
  • Hold, at minimum, 40 individual investment positions
  • Use of options to hedge, generate income, create synthetic positions, or leverage equity positions.
  • Makes investments reflecting macro economic trends usually expressed through highly liquid currency or fixed income investments or derivatives thereof.
  • Typically between 0% – 150% net long exposure. Investment exposure is achieved through long or short cash positions or through synthetic exposure using options or other derivatives. On occasion will move to 200% long exposure.
  • On occasion, will move to net short exposure of up to -100%, or to 200% net long exposure. Short exposures are typically in market indexes, fixed income securities or currencies and not in individual equities, unless for hedging underlying ownership.